The latest Investing Matters Podcast episode featuring financial educator and author Jared Dillian has been released. Listen here.
Brent Cook and Co. probably just happy with a big profit and ready to move on. As for the Turkey risk it doesn't appear that Sandstorm has any concerns. Indeed, they must be very confident that they will have no problem selling this off and getting their stream from the financing of HM development.
From the Northern Miner POSTED BY: SALMA TARIKH APRIL 28, 2017 “Understandably, shares are down… as investors grapple how a streaming/royalty company can acquire an exploration company with development and operating risk,” BMO analyst Andrew Kaip states. That said, Kaip notes the transaction is 25% accretive on a net asset value per share basis, assuming Sandstorm converts its interest in Hot Maden into a gold stream before production starts. “The challenge for Sandstorm will be to convince investors given the timeframe to realize this goal with a number of future milestones yet to be realized,” Kaip cautions.
MRLDF closed at $1.17, down .03 cents- 2.5% on 130,540 shares SAND closed at $3.48, down .07 cents-1.97% on 6,926,801 shares. Low was $3.25, high $3.49 helped by nice day for gold.
http://www.kitco.com/commentaries/2017-04-28/Will-Sandstorm-s-Newest-Risk-Pay-Off.html
Another 10,000 on the bid $1.15
With a little over 2 hous to go MRLDF @ $1.16, down .04, 3.33%, on 81,640 shares. So far low was $1.118 and high $1.19. Offers have moved up in last half hour to $1.17 with the bids stuck at $1.14. 10,000 shares traded a few minutes ago at the offer.
Poor week for the announcement. Saw a story on Yahoo that this is the worst week in seven for gold. As others have said, not sure what the justification for Mariana bigwigs taking this offer before the PFS aside from grabbing their BONUS which they just put through to get filthy rich quickly. Maybe they also didn't want to wait out any further risk in an increasingly risky world. Now they'll be able to go buy an island somewhere if all hell breaks loose, lol.
More action now - over 502,000 shares traded with a little over 1/2 hour of trading left. Last trade was for 5,000 at $1.192 Won't be home for the close, but we're certainly on an interesting journey now. We'll see what Fri brings.
Lionel -I have a level one stream account with Scottrade here in the US which can display time and sales
Just has an 80,000 share sale at $1.193
Pretty quiet with a little under 2 hours of trading left 411,375 shares traded. Down .0569 cents (4.55%) to $1.1931 at the moment. Last trade posted was about 25 minutes ago for 1,000 shares
Writer owns both SAND and MRLDF shares https://seekingalpha.com/article/4065869-sandstorm-golds-latest-deal-head-scratcher?app=1&uprof=46&isDirectRoadblock=false
Marlbrad - Saw your post after I wrote mine. Similar thinking - great minds think alike :)
Well, if there are no counter offers to this low ball plan, then we will know that others either don't want to touch HM or the fix is in. Wouldn't surprise me if Sandstorm already has been in talks for a HM buy/stream arrangement with several gold companies - also with great incentives to the top executives and BOD.
MRLDF up 68.55% @ $1.25 (97p) on over 3 million shares (30 times normal high volume) SAND down 9.9% @ $3.64 (284p) on over 7 million shares
Yep - lots of sneaky manipulation here to benefit the insiders BIG LEAGUE!
Wel,l Dart said he sold most , if not all, of his Mariana shares. Too bad, so sad:}
Sorry - SAND down only about 9% @ $3.67
Actual Pro Inv story link: http://www.proactiveinvestors.co.uk/companies/news/176898/mariana-resources-agrees-to-be-taken-over-in-a-deal-that-values-gold-digger-at-167mln-176898.html